The trade deficit fell 16% in June to a low $60.2 billion, the Bureau of Economic Analysis said on Tuesday, but despite a 3.7% reduction in imports, the goods deficit for the month was surprisingly resilient compared to recent years without tariffs.
Closing de minimis means that commercial shipments from overseas vendors must enter the United States through standard customs procedures, submit full import documentation, and pay applicable duties and taxes—a long-overdue reform to restore order and accountability to America’s trade system.
Today’s action to directly target the midstream layer—rods, pipes, wires, connectors, and other semi-finished copper products that are essential to our economy and national security is extremely welcome. Combining the Section 232 action with the use of the Defense Production Act to ensure a robust supply of copper scrap for recycling is extraordinary.
The United States has become incredibly dependent on imports to meet its daily pharmaceutical needs. This heavy reliance on imports is now creating serious drug shortages and has led to a flurry of safety concerns.
CPA submitted formal comments to the Federal Communications Commission (FCC) this week supporting its proposed rule to increase transparency regarding foreign adversary control of smart devices and appliances.
The African Growth and Opportunity Act (AGOA), enacted in 2000, was designed to promote economic development and democratic reform in Sub-Saharan Africa by granting duty-free access to the U.S. market for thousands of products.
Realigning the dollar would be the most comprehensive and effective move to address the U.S. competitive disadvantage. It can be done either by a multilateral intervention agreement, or a MAC, which would be a federal tool to moderate foreign investment in dollar financial assets.
CPA Calls for U.S. to Adopt a Managed Approach to Trade, Setting Limits on Global Imports Through Tariffs and Quotas in Strategic Sectors
America’s generic drug supply is at a crisis point. As detailed in previous reports, the United States is dangerously reliant on a high-risk imported drug supply, and today’s widespread drug shortages stem not from shipping delays or unexpected demand—but from a collapse in domestic production.
On July 17, at an event at New York University, a member of the Federal Reserve Board of Governors, Christopher Waller, said that tariffs are not inflationary. “Tariffs are one-off increases in the price level and do not cause inflation beyond a temporary surge,” he said.
